A widely followed crypto analyst believes one Ethereum (ETH)-based altcoin is gearing up for a massive breakout.
Crypto trader Michaël van de Poppe tells his 727,900 followers on the social media platform X that decentralized oracle network Chainlink (LINK) is looking bullish on the weekly timeframe as it consolidates above the key support level of $9.54.
He also highlights key resistance levels to the upside on the weekly chart, including $12.20, $16.05 and $18.55.
“Chainlink is still consolidating above the crucial resistance and flipping that for support. I think anything between $9-$11 is an interesting one to buy into. I mentioned it a few times, but it remains to be an opportunity of a lifetime.”
Chainlink is trading for $11.10 at time of writing, up 4% in the last 24 hours.
Next, he says that Bitcoin (BTC) is showing bullishness on the 12-hour chart after bouncing from the $60,000 level.
“Explained this in the past few days, I think Bitcoin is looking for its monthly low in the first week of October. [Friday] is unemployment day and I think that’s going to mark a lot. Holding onto crucial support, and reversing back upwards here indicates strength.”
Bitcoin is trading for $62,117 at time of writing, up more than 2% in the last 24 hours.
Lastly, he says that the native asset of the layer-one blockchain Sei (SEI) may be in an uptrend after bouncing off of a key support level at $0.39
“SEI is looking great. Significant correction, but likely trending upwards from this move, as it’s onto support. If this doesn’t hold, then I’m expecting to see a correction to $0.31. Reversing back up here and I think it will follow SUI’s path.”
SEI is trading for $0.41 at time of writing, up more than 6% in the last 24 hours.
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